INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE (Tables)

9 Months Ended

Sep. 30, 2013

INVESTMENT IN MINERA SANTA CRUZ S.A. ("MSC") - SAN JOSE MINE

Schedule of reconciliation of fair value allocation

	For three months ended			For nine months ended
	September 30, 2012			September 30, 2012
	(in thousands)
Amortization of fair value increments, as reported	$	1,597		$	3,746
Adjustment	71			(209		)
Amortization of fair value increments, as adjusted	$	1,668		$	3,537
Net loss, as reported	$	(2,583	)	$	(40,578	)
Adjustment	(71		)	209
Net loss, as adjusted	$	(2,654	)	$	(40,369	)

Schedule of change in the entity's investment in MSC

	Nine Months Ended			Year Ended
	September 30, 2013			December 31, 2012
	(in thousands)
Investment in MSC, beginning of period	$	273,948		$	—
Fair value of investment in MSC from acquisition of Minera Andes	—			262,883
Income from equity investment	3,914			25,301
Amortization of fair value increments	(3,662		)	(4,466		)
Dividend distribution	(1,242		)	(9,770		)
Impairment of investment in MSC	(95,878		)	—
Investment in MSC, end of period	$	177,080		$	273,948

Summary of MSC's financial information from operations

	Three Months Ended			Three Months Ended			Nine Months Ended			Period ended
	September 30, 2013			September 30, 2012			September 30, 2013			September 30, 2012
	(in thousands)
Sales - MSC 100%	$	69,662		$	116,299		$	182,031		$	212,902
Net income - MSC 100%	5,424			26,343			7,988			37,765
McEwen Mining’s portion - 49%	2,658			12,908			3,914			18,505
Net income on investment in MSC	$	2,658		$	12,908		$	3,914		$	18,505
Amortization of fair value increments	(618		)	(1,668		)	(3,662		)	(3,537		)
Income on investment in MSC, net of amortization	$	2,040		$	11,240		$	252		$	14,968